OIL AND natural gas exploration on land in Turkish-controlled Famagusta is to begin within three months, Turkish Energy Minister Taner Yildiz announced at the weekend.
“We will have completed preliminary studies in two to three months, after which we will begin test drilling,” Yildiz told an energy conference held in Kyrenia on Saturday.
Yildiz said the Turkish Petroleum Corporation (TPAO) had seismic data collected previously from the area that suggested deposits existed there.
“There is no guarantee that there is oil or natural gas there, but this is a serious operation,” Yildiz said on Saturday.
Test drilling will be initially carried out at just one well, Yildiz said, which will probe to a depth of 3000 metres below land in the Famagusta district.
The move follows the signing of an agreement between the north and TPAO on November 2 giving the corporation exploration, drilling and extraction rights to operate on land controlled by the breakaway state.